When the list price of a property is way above what the financials will support (50% or more) what is the best strategy: 1. Dont even make offer owner is not in touch with reality. Let time be your friend and maybe owner will see the light. 2. Make an offer on what you think are the financial realities of property (this will look like a low ball and possibly insult owner). 3. Make offer 20 to 25% below listed price and tie it up and then retrade during due diligence (this could be a huge waste of everyones time… ) 4. Some other ideas welcome
I have done 1 and 2 have not had sucess with 2 though. I feel that retrading that significantly 25 to 30 of offer is a bit of disengenous. Especially since you will may need to retrade a bit due to condion of infrastructure.